New Delhi: Your dream for Affordable Housing will come true under Indian Railways' new initiative.

As per Zee Media sources, the IRSDC (Indian Railway Station Development Corporation), which is responsible for redevelopment of the railway station, will now construct affordable housing.

According to the plan, the IRSDC purchase around 20 to 30 percent of the land where it will carry out redevelopment work .

According to this scheme, each house ranging between 40 to 60 square meters will be constructed under Affordable Housing. Most of the houses will be either studio apartments or 1-BHK units. The cost of these houses can range from Rs 40 to Rs 50 lakh.

A highly placed official associated with the scheme said that the purpose of this exercise is to actually provide benefits to people coming from remote areas to work in cities. These Affordable Homes of Railways will also have tremendous advantages in terms of transportation.

Under the station redevelopment project, the Railways will develop stations that are well equipped with modern, passenger facilities. These redevelopment projects will also double up as multi-transport hub. That is, you can use rail, bus, metro and taxi facility from a single origin.

According to the Railway officials, a framework has been prepared to start the project in some select stations. The dream of Affordable Homes is expected to be fulfilled along with station redevelopment and commercial space development at Delhi's Bijavasan station.